
Akihiro Fukutome
14:01 JST, December 15, 2022
Japanese megabank Sumitomo Mitsui Banking Corp. will make its first leadership change in six years.
Sumitomo Mitsui Financial Group decided Thursday to promote Akihiro Fukutome, a 59-year-old senior managing executive officer of SMBC, to president of the bank from April 1, 2023. Effectively immediately, he has become a director to go alongside his role as senior managing executive officer.
Fukutome, a co-head of the global banking unit, has extensive experience working in overseas and corporate banking divisions. He has overseen North America and other areas in the international division and had been responsible for the establishment of an online bank in the United States. He has also served as president of Toyota Motor Corp.’s financial subsidiary, Toyota Financial Services Corp.
SMBC is likely aiming to aggressively develop its overseas business.
Since SMBC was formed in 2001 through the merger of Sumitomo Bank and Sakura Bank, which descended from the former Mitsui Bank, the post of president has been held by employees from Sumitomo Bank. Fukutome, however, will be the first president from Mitsui Bank.
The current president, 64-year-old Makoto Takashima, will become the bank’s chairman of the board, replacing Takeshi Kunibe, who is retiring from the bank but will remain the group’s board chairman. These moves also take effect on April 1, 2023.
"Business" POPULAR ARTICLE
-
Toyoda to Become Automobile Business Association of Japan Chairman; to Help Guide U.S. Tariff-Affected Industriessns
-
Visitors to Japan Hit Single-Month Record High in April
-
Japan to Introduce Car Fuel with Up to 10% Biofuels from Fiscal 2028; Limited Rollout Expected at Areas with Refineries
-
Japanese Small, Midsize Firms Increasingly Employing Foreign Workers; Effort Aims to Secure Talented Employees
-
Nissan to Close 2 Kanagawa Prefecture Plants; Production Cuts Eyed at 5 Overseas Plants
JN ACCESS RANKING
-
Toyoda to Become Automobile Business Association of Japan Chairman; to Help Guide U.S. Tariff-Affected Industriessns
-
Visitors to Japan Hit Single-Month Record High in April
-
Japanese Researchers Develop ‘Transparent Paper’ as Alternative to Plastics; New Material Is Biodegradable, Can Be Produced with Low Carbon Emissions
-
Japan to Introduce Car Fuel with Up to 10% Biofuels from Fiscal 2028; Limited Rollout Expected at Areas with Refineries
-
Former North Korean Agent Says Still Many Spies in South Korea Looking to Strain Relations with Japan